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Swiss freeze possible Mubarak assets

By Reuters
Friday, February 11, 2011 12:55 EDT
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ZURICH – Switzerland has frozen assets possibly belonging to Hosni Mubarak, who stepped down as president of Egypt Friday after 30 years of rule, a spokesman for the foreign ministry said.

“I can confirm that Switzerland has frozen possible assets of the former Egyptian president with immediate effect,” spokesman Lars Knuchel said, declining to specify how much money was involved.

In recent years, Switzerland has worked hard to improve its image as a haven for ill-gotten assets and has also frozen assets belonging to Tunisia’s former President Zine al-Abidine Ben Ali as well as those of Ivory Coast’s Laurent Gbagbo.

(Reporting by Catherine Bosley and Oliver Hirt; editing by David Stamp)

Source: Reuters US Online Report World News

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  • Anonymous

    Great idea!

  • http://skulzstudios.com/ don nash

    I think most of the “frozen Mubarak assets” belongs to the American taxpayer. Gosh, thanks federal Amerikan government. Why you insist on propping up tinpot dictators and asshat Arabian kings remains to this day, a mystery.

  • http://twitter.com/oldivory OLD IVORY

    Ok. If so, another step toward global penal enforcement for thieves.

  • Anonymous

    LOL… they’re signators of the conventions against torture. They have to do that! But I guess with all those gold teeth from dead Jews they sort of need to polish their image a little.

  • Harry Tuttle

    Now if we can get the money Bush and Cheney & Co. stole.

  • Anonymous

    I wonder if they’ll freeze the assets of the torturer Omar Suleiman once he steps down. And why haven’t they frozen the assets of Bush43, Cheney and Rumsfeld?

  • surgethis

    I love how they are framing it as if Mubarak just stepped down … no …. he was driven out like a dog with his tail between his legs … running for one of his villas which he paid for with stollen money. And … there is not much difference between the war crimes of the Bush/Cheney regime and the outright theft of the treasury, the acts of aggression and torture from Mubarak’s regime. It’s all a bunch of thugs from Goldman Sachs to the Koch brothers. Thugs and mobsters with power using and abusing people.

  • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

    How much of this money has been stolen from the American middle class, by the corrupt Congress, and given to the equally corrupt “leaders” in Egypt? The Swiss, at least, have the courage and decency to demand an accounting. What will happen in the US – nothing. Like 90% of our tax dollars it is down a rat hole.

    I want an accounting and every dime of our tax money returned NOW! Enough of this theft from US citizens. Hang them all.

  • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

    It will go for executive bonuses, legal fees, and bribes to lobbyists.

  • Guest

    To protect ME oil supply. If nice guys ruled, they’d probably do business with us too. May cost a little more though.

  • Anonymous

    So why now? Right, stick a fork in ‘im, he’s done. He’s toast.
    I find this arbitrary and capricious in regards to the whole Swiss banking
    flimflam. Still waiting for that list of all the US high rollers who play hide the assets, avoiding taxation…while enforced taxation is reserved solely for the little guy.
    Don’t get me wrong, I’d like to see every dime come back to the US, once this toady’s stench has been wiped off.
    In a just US, we could choose where and how our fair share of taxation went.
    I’d like to see mine go to education, single payer / universal healh-care.
    Up keep of infrastructure that benefit the many, not the few.
    This funneling money toward perpetual use to tear down rather than to
    create is unhealthy. And that’s the truth.

  • Jaimie11

    Courage? You jest!

  • proofter

    Shoulda kept his money in Dubai, the place built on the backs of slaves, the place with no conscience.

  • H.P. Loathecraft

    “…they’re signators of the conventions against torture. They have to do that!”

    As is Uncle Satan but…..

  • H.P. Loathecraft

    Love to see the UK seize the family real estate and kick his all of spawn out of Britain. Still waiting…

  • H.P. Loathecraft

    No time like the present.

  • Anonymous

    Now, if they would just start applying the “Money Laundering Control Act” to the US congress, we’d be on a roll.

  • Anonymous

    yeah, that’s the point and that’s also why Bush isn’t visiting there anytime soon. If the offending country does not try the person than the other countries are required by treaty to do so.

  • http://twitter.com/btmfdrsheaven rebecca meritt

    The bank freezes the money to protect themselves,should he want to pull it all out and take it to where ever and to stop any hacker from taking it or the new government from seizing it. It is done solely to protect the corp.bank.

  • Anonymous

    Yes, correct and the present is truly a gift. (pun intended)

    Most of my board “questions ” have a rhetorical bend/slant. (Bent?)

    I tip my hat to the tao-like balance you bring to the table, and melt like butter
    for all things Zappa…

  • Anonymous

    Why are his ill-gotten assets frozen the moment he resigns, but prior to that instant, everything is fine? Why exactly has this change of status effected his accounts status?

  • xxx

    Aahhhh, the Swiss….you hold the assets as long as possible, already knowing that the dictators aren’t clean, and then in the end, freeze their assets and look clean. One question, dear Swiss people, what do you do with those frozen assets? Distribute it back to the poor in Egypt? Just wondering. Hypocrites.

  • Anonymous

    your question has excellent insight….

  • Anonymous

    You are correct rebecca meritt, the banks froze those accounts because they don’t want him to pull it out but not because it may be the wrong person. It’s because if he walked in there and decided he wanted 7 billion dollars from one account, the bank may not have the money so they don’t want him to insolvent the bank. Another reason is that he isn’t in power no more, no leader of a country. And to add to the fact that they don’t want one or more of their banks to dish out billions of dollars, will say that this money is ill gotten gains. He will ahve to prove it’s his, but he won’t get the money. They may even hold it for Egypt minus the govt. percentage for stopping this 30 YEAR FRAUD lololololo.

    You see they knew what he was doing and everything was fine, now that he got ran out of the country they don’t want to pay him his money. What is he going to do launch an attack on switzerland. He could take it to world court and such, but he doesn’t want to do that and I bet many govt. won’t allow him either. Because he killed, tortured and did alot of stuff to his own country men and for other countries. And on top of that he stole alot of money from his country. The last thing he needs or wants it a forum for the Egyptian govt. to come in and demand the money back (which they most certainly will do). The banks have him between a rock and a hardplace.

  • xxx

    I totally agree. It is always the law abiding citizens that get taxed and controlled. The Swiss are a bunch of hypocrites – first they hide all the money for the scums of this world, profit off of it as long as possible, and then appear to come clean. Neutrality, my a**.

  • Anonymous

    Why not also freeze the assets of corrupt U.S. banksters, CEOs, corporations, and politicians who are trying to evade U.S. tax laws?

  • xxx

    To date, approximately 3400 corrupt Indian politicians (as an example), are hiding approx. $3 billion in Swiss bank accounts, but Switzerland does not want to release their names even after the Indian government is asking for them, because, and this is their written explanation – “Switzerland and India do not have an AGREEMENT to disclose the names.”

  • xxx

    Not to mention the sweat and blood of the poor, where dictators, thieves and murderers have robbed their nations’ wealth.

  • Anonymous

    The Swiss wanted his banking business. Now that he is damaged goods, not so much.

  • Knot

    Most of the US aid to Egypt (1.2 out of 1.4 billion a year) is military aid, which is not given as cash. It comes with a provision to buy American weapons and training. It’s corporate welfare to arms dealers. The other aid was cheap grain, bought from corporate agri-business. Mubarak may have used American weapons to control economic activity and make his fortune, but it’s not like he ever got pallets of US taxpayer cash.

  • Anonymous

    What about the So-Called U.S. Corporations which had/have secret accounts. In which they have used the accounts illegally to hide their wealth and from paying any taxes..
    The so-called independent Swiss country is turning out to be just as much BS as other governments and countries.

  • Anonymous

    This is probably what changed his mind about stepping down.

  • Hassan i Sabbah

    In related news, protesters have order a large refrigerator to freeze Mubarak’s ass.

  • Hassan i Sabbah

    Better yet, why not just freeze their asses.

  • Anonymous

    What, no 70 billion dollar spending spree from our money we gave him?

  • Anonymous

    Clean the bastard out and divy up the money among Egypt’s poorest. I’m okay with donating whatever share of my tax dollars went into his private coffers vis-a-vis “aid” to those poor people. When you’re done, lightening his load, take him to the gallows. If for no other reason that for the 300 lives that were just wasted during the protests.

  • http://profiles.yahoo.com/u/3ETFGMQ3B7VD4AAMILBBEVMCWE JasonA

    Whatever amount of money Mubarak received from the US is money stolen from the middle class. Money given in military aid is money wasted. Murder is committed in the name of the US taxpayer, and dictators like Mubarak are enabled to do their dirty deeds by our weapons and money. The US has blood on its hands, and one day…the chickens will come home to roost.

  • Anonymous

    I’m sure he managed to siphon off plenty…

  • H.P. Loathecraft

    Peace, teach!

  • H.P. Loathecraft

    Refusing to do so for Obama is, ironically enough, an impeachable offense and quite literally a crime.

  • Anonymous

    That’s why most of Congress is guilty… 2382, misprision of treason

  • justintime

    Hey Switzerland !
    Show us the money.
    Send the money back where it came from.
    Freeze the assets of America’s corporate kleptocrats, too !

  • justintime

    Switzerland . . . . Accessory to the crime of kleptocracy.
    Send the money back to the people it was stolen from.

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